Decree No. 506 / 2002 Coll.
Decree implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities of the National Property Fund of the Czech Republic and the Land Fund of the Czech Republic
Valid
Order
Effective from 01.01.2003
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506
DECLARATION
of 6 November 2002
implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities of the National Property Fund of the Czech Republic and the Land Fund of the Czech Republic
According to Article 37a (1) of Act No. 563 / 1991 Coll., as amended by Act No. 492 / 2000 Coll. and Act No. 353 / 2001 Coll., the Ministry of Finance provides for the implementation of Sections 4 (2), 14 (1) and 18 (4) of Act No. 563 / 1991 Coll., on Accounting, as amended by Act No. 492 / 2000 Coll. and Act No. 353 / 2001 Coll., hereinafter referred to as "the Act":
SUBJECT MATTER OF ADJUSTMENT AND SCOPE
The decree shall specify:
(a) the extent and method of drawing up the accounts;
(b) the layout, labelling and content of the items of assets and other assets, liabilities and other liabilities in the accounts;
(c) the layout and content of the explanatory and supplementary information in the Annex in the financial statements;
(d) the indicative chart of accounts; and
(e) accounting methods.
The decree applies to the National Property Fund of the Czech Republic and the Land Fund of the Czech Republic, which are legal entities under special legislation1) and to the accounting units under § 1 (2) (a) of the Act (hereinafter referred to as "the Funds').
FINANCIAL CONCLUSION
(K § 4 (8) of the Act)
SCOPE AND METHOD OF ACCOUNTING
(1) The accounts of the entities referred to in Article 2 include a balance sheet (balance sheet) and an annex.
(2) Assets and other assets, liabilities and other liabilities are included in the balance sheet (balance sheet). The arrangement and labelling of balance sheet items (balance sheet) are set out in Annex 1 to this decree.
(3) The profit and loss account of the Funds is not compiled.
(4) The Annex explains and complements the information contained in the balance sheet (balance sheet).
(1) In the balance sheet (balance sheet), the items listed in Annex 1 to this decree are shown separately and in the order laid down. Further detailed breakdowns of these items may be made provided that the specified arrangement is maintained.
(2) Balance sheet (balance sheet) items are identified by a combination of the large letters of the Latin alphabet, Roman numerals and Arab numerals and by the name of the entry; items can be broken down into subheadings.
(3) Each balance sheet item (balance sheet) also contains information on the amount of this item reported for the immediately preceding financial year (hereinafter referred to as the "previous financial year"). Where the information provided for the previous financial year and the current financial year is not comparable, the information for the previous financial year shall be adjusted in the light of the significance of Article 19 (6) of the Act and the Annex shall justify this adjustment.
(4) Balance sheet (balance sheet) items in accordance with paragraph 2 for which there are no figures for the current and previous financial years shall not be reported.
(5) The accounts are drawn up in units of Czech currency and individual items are recorded in thousands of CZK. The items "Total assets" and "Total liabilities" must be equal to.
DETERMINATION OF CERTAIN BALANCE SHEET ITEMS (BILANCE)
Long-term assets
(1) The item "A. Long-term assets" contains the purchase price of intangible and tangible assets which serve the operational activities of the Funds.
(2) The item "A.I. Long-term intangible assets" contains in particular software, valuable rights and other long-term intangible assets, with a period of validity of more than one year and from the amount of the price determined by the entity, subject to compliance with the conditions laid down by law, in particular by respecting the principle of significance and faithful and fair display of the property.
(3) Long-term intangible property becomes acquired property placed in a state of eligible use, meaning the completion of the acquired property and the fulfilment of the specified functions and obligations laid down by the legislation governing its use.
(4) Item "A.I.4. Uncompleted long-term intangible assets" shall include purchased long-term intangible assets while they are being acquired until they are put into a state of eligible use.
(5) Item "A.I.5. The advances provided for long-term intangible assets" include short-term and long-term advances granted for the acquisition of long-term intangible assets.
(6) The item "A.II.1. Land" contains land owned by the Funds, irrespective of their cost.
(7) The heading "A.II.2. Construction" includes, irrespective of the amount of valuation and usability of the construction (2), including buildings, flats and non-residential premises defined as units under special legislation and other construction works under special legislation owned by the Funds.
(8) Item "A.II.3. Separate movable goods and sets of movable goods" contain separate movable goods and sets of movable goods with separate technical and economic determination with a period of validity of more than one year and from the amount of the valuation determined by the entity, subject to compliance with the obligations laid down by law, in particular by respecting the principle of significance and faithful and fair display of property.
(9) Item "A.II.4. Artistic works and articles" includes works of art which are not part of the construction, movable cultural monuments, 3) objects of cultural value 4) and similar movable goods owned by the Funds, regardless of the cost.
(10) Heading "A.II.5. Other fixed assets" contains fixed assets which, by their nature, are not included in previous items.
(11) Item "A.II.6. Uncompleted tangible fixed assets" shall include the acquired tangible assets during their acquisition until they are put into a state of use.
Property of the Fund taken over for privatisation
(1) The heading "B.I. Property of the Fund" contains:
(a) the balance of the assets for privatisation taken over by the National Property Fund of the Czech Republic under the special regulation1) at the end of the balance sheet day;
(b) the balance of assets taken over by the Land Fund of the Czech Republic after withdrawal from the privatisation agreement at the end of the balance sheet day.
(2) The heading "B.II. Property of the Hire Fund" includes:
(a) assets of the National Property Fund of the Czech Republic, not yet privatised, leased on the basis of concluded lease contracts;
b) Property owned by the Land Fund of the Czech Republic, taken over after the withdrawal from the privatisation contract at the end of the balance sheet and leased on the basis of concluded lease contracts.
Financial assets
(1) Item "C.I.2. Bank accounts' shall comprise cash balances of funds intended solely for the payment of all costs associated with the operational activities of the Funds, including the social fund funds.
(2) Item "C.I.3. The bank accounts of the special funds" shall include cash balances resulting from individual transactions in the privatisation of assets arising from the Statute of the Funds, reduced by the transfer of funds to cover the costs associated with the operational activities of the Funds.
(3) The heading "C.I.7. Securities and deposits" includes equity deposits of Funds in equity and limited liability companies.
Claims
(1) Item "C.II.1. Claims abroad" shall include claims on debtors who have their head office abroad when delivery is completed within the meaning of the relevant provisions of the commercial relations contract.
(2) Item "C.II.2. The domestic claims" shall include claims on debtors who have their head office in the country when supplies are completed within the meaning of the relevant provisions of the contract in the field of commercial obligations.
Equity
(1) The heading "A.I. Capital" includes the capital position of the Funds earmarked for its operational activities from the privatisation fund at the cost of long-term assets.
(2) The heading "A.II.1. privatization fund" contains the balance of the privatisation resources under the special legislation, after deduction of the operating costs incurred and the acquisition of fixed assets for the operation of the Funds.
(3) Item "A.II.2. Other funds" contains the balance of other financial resources generated or managed by the Funds under specific regulations. The Funds shall decide on a more detailed breakdown of this item under their responsibility.
Commitments
(1) Item "B.I.1. Suppliers" contain commitments arising from contracts concluded by the Funds with the acquirer of privatised assets in direct sale of assets or taken over with privatized assets (a. s. established by the National Property Fund of the Czech Republic) in order to eliminate environmental damage arising prior to privatisation under special legislation. This item also includes the commitments of the Funds towards suppliers in respect of the operational activities of the Funds.
(2) Item "B.I.2. The notes to be paid" contains the debt notes issued by the foreign and accepted foreign in their use to satisfy the obligations to the creditor.
(3) The item "B.I.10. Issued bonds" expresses the balance of the issued bonds at the level of the respective issue.
ARRANGEMENTS AND DETERMINATION OF EXPLANATORY AND ADDITIONAL INFORMATION IN THE ANNEX TO THE ACCOUNT
The Annex shall be drawn up in a descriptive manner or in the form of tables to ensure the clarity and clarity of the information submitted. Part of the Annex is an overview of the creation and use of the privatisation fund.
(1) In the Annex, the Funds shall include the information referred to in Article 18 (2) of the Act, in particular a description of the organisational structure and changes to it during the previous financial year, the names and surnames of the members of the statutory and supervisory bodies at the balance sheet date, the average number of employees, of which managers, the personnel costs incurred per employee and of which managers, the remuneration of statutory and supervisory bodies (aggregated data, not individual staff data).
(2) To the items of the claims shown on the balance sheet, the Funds shall indicate in an annex the fair value of those claims, which is supported by their actual creditworthiness on the basis of the entity's qualified estimate.
(3) The Funds shall indicate in the Annex important information concerning claims and liabilities, in particular after maturity, and shall explain any significant event occurring between the balance sheet date and the time when the accounts are drawn up in accordance with Article 19 (5) of the Act.
(4) In the Annex to the Funds, they shall comment on those items of the privatisation fund which have significantly affected its final balance during the previous financial year.
Overview of the creation and use of the privatisation fund
(1) The inventory of the creation and use of the privatisation fund is broken down into Sections A, B, C, D and contains data on revenue (revenue) and use (expenditure) of funds for the privatisation of assets in the context of the Fund's activities under specific rules and for the purpose of ensuring the fund's own operational activities on the basis of an approved budget for the relevant financial year.
(2) Section A lists the initial status of the privatisation fund on the first day of the financial year and the individual items which, by virtue of legislation, increase the status of the privatisation fund.
(3) Section B lists items that reduce the amount of resources from the privatisation of assets. The operational costs of the Funds shall be reported separately.
(4) Section C lists the final balance of the privatisation fund at the balance sheet date. This item is equal in the balance sheet (balance sheet) to item "A.II.1. Privatization Fund '.
(5) Section D lists the costs incurred in the operation of the Funds, broken down by species, including expenditure on the acquisition of fixed assets.
DIRECTIONAL ACCOUNTING PERSONS AND ACCOUNTING METHODS
DIRECT ACCOUNTING PERSONS
(K § 4 (8) of the Act)
The accounting groups of the indicative chart are listed in Annex 3 to this decree.
(1) Within the accounting groups listed in Annex 3 to this Order, the Funds will use synthetic accounts ending in numerical characters 0 to 9.
(2) The organisation and content of synthetic accounts within the accounting groups of the indicative chart of accounts shall be chosen by the Funds under their responsibility in the accounting schedule.
(3) Within the relevant synthetic accounts, the Funds shall treat the creation of analytical accounts taking into account the specific needs of ensuring clear and conclusive supporting documents for drawing up the accounts and other information on the activities and assets owned or managed by the Funds under specific regulations.
ACCOUNTING METHODS
(Articles 4 (8) and 28 (1) of the Act)
Basic method for accounting Funds
(1) The accounts of the Funds are organised in two separate headings. Under the first heading, the operating costs and the costs of acquiring fixed assets related to the security of the operation of those entities shall be accounted for within their scope by the legislation. 1) The second heading includes accounting cases concerning the transfer of assets for privatisation and its privatisation under special rules. These two headings are linked to the internal clearing account and constitute the total accounts of the Funds as entities within the meaning of the Act.
(2) Funds are accounting units which do not show the result of the business. The costs (expenses) for the provision of operating activities are covered by the privatisation fund, the revenues (revenues) of the Funds increase the privatisation fund.
(3) Material intended exclusively for the operational activities of the Funds is charged when it is acquired into consumption. This material shall be recorded in the lists of such assets and shall be subject to inventory during storage, in order to protect it.
(4) Small intangible assets and small tangible assets for the purpose of securing the operational activities of the Funds with a period of validity of more than one year, in the valuation by the entity, up to the amount specified for the long-term intangible and tangible assets, shall be charged on acquisition into costs. This property shall be recorded in off-balance-sheet accounts and shall be subject to inventory until its disposal.
(6) Account class 5 accounts - Costs shall be accounted for solely by the cost of securing the operational activities of the Funds. These costs are defined and limited in substance by the approved budgets of the Funds.
(7) Expenditure on the acquisition of fixed assets for the operation of the Funds reduces the privatisation fund and increases the capital of the Funds.
(8) The purchase price of fixed assets serving the operational activities of the Funds shall be settled at the disposal of the Fund by sale or liquidation on the basis of the capital.
(9) For privatisation claims, the relevant account of a particular borrower may be charged as passive items
(a) advances received (guarantees) paid by the debtor in advance of the conclusion of the purchase contract for the purchase of the privatized assets;
(b) the amounts received for so-called developed projects where the buyer did not sign the transfer protocol and take over the privatized assets but paid for the assets.
(10) Passive items in the accounts of claims on specific debtors reduce the total amount of claims settled on the balance sheet of privatised entities in cases where the Funds have taken over the assets of privatised entities and have made sales under approved privatisation projects.
(11) The Land Fund of the Czech Republic accounts for real estate used for agricultural or forestry production, which went into the administration of the Fund by law, 5) in the off-balance sheet. When searching for this property, the updated updated data from the cadastral offices on the ownership certificates shall be introduced into the Fund's accounts at least four times a year for land, buildings and buildings on an ongoing basis. Construction and land shall be separately accounted for in the analytical record.
Departure of funds' assets
Funds don't write down property.
Accounting for the creation and use of the privatisation fund
(1) The Fund accounting system is based on continuity in the balance sheets of the original State bodies. The assets of the privatised entities that come to the Funds and increase the privatisation fund must be evidenced by the accounts of the privatized entity drawn up in accordance with the accounting rules, inventories and inventories. An annex to the accounts shall include an overview of the rights of industrial or other intellectual property; the assets which are not kept in the accounts of the privatized entity on balance sheet accounts must be separately disclosed.
(2) The assets to be privatised, which are transferred to the Funds under the legislation, are the source of the privatisation fund.
(3) The Land Fund of the Czech Republic also accounts for revenue from the sale of buildings and land under its management, which it accounts for on the off-balance sheet.
(4) The use of the Funds' assets under the legislation, with the exception of renting it, reduces the privatisation fund.
(5) When the assets of the Funds are leased to another entity, a reduction in the assets of the Funds and an increase in the assets of the Lease Fund shall be recorded. At the end of the contract for the lease of assets of the Funds to another entity of the Funds, the balance sheet of the privatised assets shall be taken over after settlement of the result of the management at the end of the contract.
(6) In all other steps in privatisation (for example, when withdrawing from purchase contracts, renting out or entering into assets), it is a mandatory basic control element of the entire inventory process of assets and liabilities.
Methods of valuation of the assets of the Funds
(1) Securities and shares in the assets of the Funds are valued at cost. At the balance sheet date, the real value of the securities and receivables to be traded shall be expressed by the Funds in the notes in the financial statements.
(2) Privatised assets in the Fund Property Account shall be valued cumulatively at a cost equal to the difference between total assets and foreign sources of the privatized entity. The balance sheet (balance sheet) of the privatized entity is the basis for drawing up the accounting document and provides a clear overview of the valuation and structure of the assets of the privatized entity. The analytical records shall be kept separately by individual privatised entities.
(3) Long-term assets in tve5) The Land Fund of the Czech Republic shall be valued in the accounts according to the accounts of the donor enterprise or at fair value, 6) if the remaining price of the transferred or newly found fixed assets is unknown. When determining the fair value of such assets, it is based on a qualified estimate determined by the entity.
(4) Land under the management of the Land Fund of the Czech Republic in the cadastral area with digitisation is valued according to the individual assigned soil ecological units, for land without digitisation the average price of land of the cadastral territory.
(5) The assets of the Funds leased to another entity are valued on the basis of the balance sheet of the privatized entity.
Accruals
(1) Funds cover costs in principle within the period in which the costs were incurred. The Funds shall not account for the costs, expenditure, revenue and revenue of future periods.
(2) For example, where it is not possible to determine the final amount of liabilities by the date of the closure of the books, they shall only be charged on the maturing accounts of the active and passive Funds in cases that cannot be accounted for as current claims (maturing accounts that are active).
TRANSITIONAL AND FINAL PROVISIONS
The provisions of this Order shall not apply to the financial statements drawn up for the financial year beginning before the expiry of this Order.
Efficacy
This Decree shall take effect on 1 January 2003.
Minister:
Sobotka v. r.
Příloha č. 1
Annex No 1 to Decree No 506 / 2002 Coll.
Balance sheet item arrangement (balance sheet)
TOTAL ASSETS
A. Long-term assets
A.I. Long-term intangible assets
A.I. 1. Software
2. Valuable Rights
3. Other long-term intangible assets
4. Uncompleted long-term intangible assets
5. Advances provided for long-term intangible assets
A.II. Long-term tangible assets
A.III. 1. Land
2. Construction
3. Separate movable goods and sets of movable goods
4. Artistic works and articles
5. Other fixed assets
6. Unfinished fixed assets
7. Provided advances on long-term tangible assets
B. Property taken over for privatisation
B.I. Property of the Fund
B.II. Property of the Hire Fund
C. Current assets
C.I. Total financial assets
C.I. 1. Money
2. Bank accounts
3. Bank accounts of special funds
4. Deposits in foreign currency in domestic banks
5. Money on the way
6. Money in foreign currency on the way
7. Securities and deposits
8. Prices
C.II. Total claims
C.III. 1. Claims abroad
2. Claims domestic
3. Provided operational advances
4. Social security and health insurance
5. Income Tax
6. Other direct taxes
7. Other taxes and charges
8. Other claims
D. Transitional accounts active
D.I. Outstanding accounts active
TOTAL Liabilities
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Regulation Information
| Citation | Decree No. 506 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities National Property Fund of the Czech Republic and Land Fund of the Czech Republic |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 05.12.2002 |
|---|---|
| Effective from | 01.01.2003 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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